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institute for a discussion on the scheduled tax increases the percent to hit in january, including the end of the bush era taxes, payroll tax holiday hikes and invested in come also. a new tax policies and to report says nothing is done. average marginal tax rates would go up by five percentage points on labor income, seven points on capital gains and more than 20 points on dividends. along with more than a trillion dollars in budget cuts. also starting january or known as the fiscal cliff. it should get under way in just a moment. [inaudible conversations] >> good afternoon, and welcome to the urban institute's first tuesday. my name is howard gleckman of the tax center blocks and we are here to discuss taxes in the fiscal cliff. as you all know, washington lives everything that happens here is the biggest or the worst were the most important. how many times for instance have you been told some politician is about to give the speech of his life until he gives the next speech. the tax armageddon has the potential to actually be a watershed in the fiscal policy. true it could be another opp
not raising taxes and essentially reducing the regulatory burden, but as you know, and the president said it, but it's true, the president's plan as well, there are not a lot of specifics here so it is a little hard to kind of pin down exactly what each of these candidates is going to do. but i think the general view is less government basically. let the free market do its thing. that was the message from last night. let the american people make their own choices, do their own thing. and that's sort of in a broad sense what romney is talking about. dagen: it was great to see you. >> thank you. dagen: coming up next hour john challenger on his new layoffs report and what the candidates need to say about the mess. connell: here we go. 18 electoral votes and no state was mentioned more in the debate last night than ohio. dagen: liz claman live from cleveland for day one of open for business. liz? liz: well, from politics to business, cleveland and ohio, look at this, we are at the rock and roll hall of fame where 100 million dollars of tourism money comes through these doors every single year,
romney are back on the campaign trail, but still debating taxes. >> susie: i'm susie gharib. the feds launch one of the largest crackdowns on medicare fraud. $430 million in scams leads to arrests from coast to coast. >> tom: and we'll introduce you to a company hoping to become the mcdonald's for healthy eaters. >> susie: that and more tonight on nbr! >> tom: it was right back to the campaign trail today for president obama and mitt romney. the president went on the attack after what's been perceived as a lackluster debate performance. and the president accused governor romney of not telling americans the truth about what president obama calls romney's $5 trillion tax plan. darren gersh, tonight, looks at what the real impact of the romney tax plan could be on the american economy. >> reporter: here's where the president gets that $5 trillion number he used again today. governor romney's plan to cut tax rates by 20% would add up to about $5 trillion over ten years, assuming no other changes. but governor romney is planning to make other changes by eliminating tax deductions worth abo
: what do you think of mitt romney who he added more detail to the tax cut plan that he would get rid of special exemptions, allowances, what you talked about, like limit deductions to $17,000 total tops? >> well -- neil: made the prospects of tax rates going down to 20% to a lot of people less favorable, that they say, well, am i really going to do so well under this? what do you think? >> well, you don't have to use the horrible word that gets grover norquist to lose his mashbles while he wonders around the world and his wife cheats. neil: i take it you're not a fan? >> i'm not. anyone who signs something 15 years before the issue, you shouldn't be in congress to sign -- meal kneel no tax -- neil: no tax hike pledges? >> you don't have to do a, quote, "tax in connection -- "tax increase". you're not doing a tax increase. getting $6 billion out of ethanol, and grover calls that a tax increase. neil: you think the time came to face the american people, tell them this sort of thing that we're up against romney exploited so cautiously. some think it's too late for that. do you buy that?
of the campaign is the lie that mitt romney will raise taxes on the middle class. mitt romney has no chance of raising taxes on the middle class. his republican base would kill him. the concept of raising taxes on the middle class will never happen. >> if not, something has to give. then he can't deliver tax cuts. >> you can come up with a tax reform plan. increased revenue that takes down the rates, makes it fairer everybody. it's difficult, but you can do it. >> you can't take the rates down 20% though on top of the bush tax cuts. >> romney said, i have reform principles. they are going to help grow the economy and create jobs but the idea he can raise taxes is fanciful. he'll never do it. >> if you are going to cut taxes for the wealthy as much as mitt romney wants to there is no way or he would have put forth the pro growth plan. he's ring on magic like harry potter will be his treasury secretary. >> he's not going to be able to cut taxes for rich people. he doesn't want to. the idea of pro growth taxes -- >> didn't he say 20% across the board? >> he did, but he also said if you take up
-end, point, where a number of provisions need to be dealt with. it is a massive combination of taxes and spending. we have the george w. bush era tax cuts that were extended two years ago and now expire at the end of the year. these are tax cuts that lower tax rates,hat impact americans all across the income scale. you have tax breaks on higher income, lower income that would shift if congress fails to act. there are middle-class tax breaks that are part of that. congress does not do anything, almost everyone's taxes would go off. there is a sizeable package of spending cuts to the federal government, 100 billion for the next fiscal year that would hit several departments evenly across the pentagon and domestic agencies. these spending cuts were the product of white listeners would remember as the debt ceiling negotiations -- of what listeners would remember as the debt ceiling debate where leaders could not get the debt load under control and they essentially said all right, since we fail to come up with a plan to a month next year we will automatically trigger these -- to come up w
card. two tax cuts that were not paid for. stuart: all right, i'm making the judgment that romney won. it's not just me, however, the perception that romney won this debate is widespread. even among the liberal media. headline from "the washington post" "rejuvenated romney hammers obama on his economic record" the los angeles times "a lackluster obama, a revived romney". unabashed obama supporter chris mathews was even disappointed with his guy. >> where was obama tonight? i don't know what he was doing out there. he had his head down, he was enduring the debate rather than fighting it. james carville, also noticed a new attacking style from romney. quote, mitt romney came in with a chain saw. and this tweet from bill maher. >> i can't believe i'm saying this, but obama looks like he needs-- he does need a teleprompter. well, coming up at ten o'clock. the top of the hour, eastern that would be, we will talk to brent about the media coverage of this debate. here is a question for you. by ten o'clock eastern, will the establishment media have rallied around the president, will they have
, and relate regulating big business for the protection of the people -- setting reasonable taxes for the welfare of the nation, protecting and maintaining, advancing the national infrastructure. generally acting as leaders. next up is sherry, watching us up in des moines, iowa. caller: i do agree with mitt romney. i think the government is getting way too big. host: next up is les in detroit. a democrat. you are on. caller: we in michigan have to decide in november whether to allow a big state to come into a city to take over and take a financial manager or an emergency manager and. i guess they think the cities who have -- local government where they can come in and remove the city officials. like the mayor, city council. now, i do not think that is what the presidential candidate mitt romney had in mind when he wanted to say states have rights. but what about the city's rights to elect their own elected officials? and i guess follow their own destiny? winnie's a government interference, i understand you are talking about the federal. but i heard mitt romney say states' rights.
taxes. >> this whole campaign is about the 100%. >> you want to be president, you owe the american people the truth. >> the only thing that could have salvaged president obama's performance if the body of bin laden fell from the ceiling on to the stage. >> the latest fallout for seat scare for american. >> we had a very unique situation. it's completely random. >> in just hours the latest jobs report is coming out. >> 12.5 million unemployed. 8.1%. >> gas prices are going up across the country. but in california they are soaring to a panic level hovering near the $6 mark. >> i've never seen it so high. >> get a look at this, the first snow of the season making a mess across the upper midwest. >> we're excited. >> a bus driver becomes a target of an angry fare jumper. >> 50 years ago james bond made his big screen debut. >> everybody gets a day off. >> all that -- >> going deep. how about that? >> did you really need to call barack obama the president of the united states lazy? >> yes. >> all that matters. designee hasn't done this poorly since he debated clint eastwood. >> their su
. the debate focus around the economy as we knew it would and the candidates traded jabs over tax policies for the middle class. >> romney: under the president's policies middle income americans have been buried. they've been crushed. i will not under any circumstances, raise taxes on middle income families. >> obama: now, five weeks before the election, he's saying his big, bold idea is never mind. >> romney is saying he would push for tax relief is another flip-flop. from his statement a few weeks ago that we should not expect a huge cut in taxes if he's elected president. we'll do some fact checking for you in the next current news update. despite the lies and contradictions from romney, a new cnn poll says 67% of voters do think he won the debate. more bill press coming up after the break. stay with us. you're about to watch an ad message created by a current tv viewer for capella university. matter. education is the key. it is the vehicle. it's the way in which we evolve. every journey is different every possibility is uni
actually, it is a bit more than that. but we do not need is a tax increase that will cost us 700,000 jobs. two years ago, the president said you do not want to raise taxes in a bad economy. the economy was better than that it is now. ladies and gentleman, this is a big choice. it is not only about taxes. it is about freedom. it is about our principles. it is about our country. it is about the idea of our country. america is so much more than a country with a flag. it is an idea. these ideas make us who we are. they make us special. i will see something that in washington is considered out of date or wrong, and it is this -- america is an exceptional nation. we are not afraid to say so. [cheers and applause] >> usa! usa! usa! >> we have a chance to get ourselves on the right track. we have a chance to vote for someone who will protect our freedoms. he will lead to protect our religious freedom. he will protect our second amendment rights. ladies and gentlemen, right here in virginia, we have a big choice to make. america has a big choice to make. america will make the right choice
business going. helping small business. >> encouraging small business growth lowered taxes for small bidses. through small businesses. 97% of small businesses. >> it's small businesses. a guy who has a small business. successful small businesses. >> those small businesses. >> all the praise for small businesses and their owners obscures the questions we should ask. what counts as a small business and what is their role in the u.s. economy? many of these small businesses talked about are anything but small. in order to avoid paying income taxes, they use sole propriet proprietorships and s-corporations. the owners file the profits on individual tax returns making the term small business about the number of owners rather than anything else. as a result, these small business owners include partners of hedge funds. also, donald trump. >> under governor romney's definition there are a bunch of millionaires and billionaires who are small businesses. donald trump is a small business. i know he doesn't like to think he's small anything, but it's how you define small businesses to get business incom
federal income taxes. >> this whole campaign is about the 100%. >> you want to be president, you owe the american people the truth. >>> dozens of american airline flights are canceled. the latest fallout from a seat scare on several flights. >>> gas prices are going up across the country, but in california, they're soaring to a panic level, hovering near the $6 mark. >> oh, my god, i've never seen it so high. this is unbelievable. >>> get a look at this, the first snow of the season, making a mess across the upper midwest. >> we're excited. >>> sucker punch, camera inside a city bus. >> that bus driver becomes the target of an angry fare jumper. >> oh! >>> james bond made his big screen debut 50 years ago. >> back in england, everybody gets a day off. >>> bradford is going to go deep. and how about that? >> did you really need to call barack obama the president of the united states lazy? >> yes. >> and all that matters. >> he hasn't done this poorly since he debated clint eastwood. >> campaign and their supporters debated the president's poor performance on ev
the attacks. a week ago paul rhine was asked to explain the math of a tax cut and he said i don't have time. governor mitt romney had a massive performance and the underpenings of that was dishonest f. you are willing to say anything to get elect make up your positions, american people have to understand how they can elect you. >> steve: is calling mitt romney and ryan a good strategy. here to weigh in is washington insider amelia and democrat pollster marjorie. good morning to both of you. >> margey. it does sound like according to the new york times, 10 minutes before the end of the debate they were on a conference call talking about he stunk up the place. we'll have to go full steam ahead on a new attack and that is going to be romney is a liar. >> any time you hear mitt romney express different position than the day before it is for voters to know. we would be talking about mitt romney's loose interpretation of the facts regardless of what the people thought of the pet's performance. his own campaign walked back what romney said about covering people with preexisting conditions in the h
will actually go to schools. i spoke with the director of the maryland budget and tax policy institute. it is a nonpartisan organization and he says if voters approve the referendum, there should be close to $200 million that goes into the education trust fund. by the year 2016. >> all of the money will go to the education trust fund and will go to local schools. but the state may then use some of the money it saves because it doesn't have to use tax dollars for that school aid, and use that for health care and public safety, and parks and other good things that we depend on from the state. so it helps the state treasury. it will help the budgets. >> right. >> but it is wrong to say that it will increase education aid dollar for dollar. >> so what about job creation? that is another thing that they speak of. the ones who want you to vote in favor of this referendum. head to myfoxdc.com for our entire interview. >> massive automatic federal cuts are set to take effect in three months. one thing set to go is the bush you could pay a hefty price tag if congress doesn't renew them. accordi
has questions on the president from taxes to debt and spending. >> he wants another stimulus? how did the first one work out? he wants to hire more government workers? he wants to pick with winners and losers solyndra, losers in his case. we know where that leads. we have seen the last four years. we don't want four more years like the last four years. >> reporter: the debate at the university on long island is going to include foreign policy. to that end the governor is rolling out the foreign policy ball. he has a big speech on foreign policy at virginia military institute in lexington. >> gregg: tell us how big the first debate is playing out in the campaign ads. >> reporter: both sides are trying to portray the other as the bigger fiber. he has new ad from both campaigns and both are saying the other is untruthful from taxes to anything under the sun. take a look. >> i don't have five trillion dollar tax cut. if you just implemented it would cut five trillion dollars. >> i will not produce the taxes paid by high income americans. >> is that actually true? >> the latest, not tellin
these tax breaks that they get, we are playing for these tax breaks. we need roads, police, et cetera, and as long as we allow them to pay 13% when they should be paying much more, they are taking health care away from children, that need -- the family can't take them to the doctor. they can't pay for utilities, et cetera, and so forth, and they need to understand, you know, once they get all of our money, they are going to destroy us. so they really need to change their attitude about what is going on here. >> stephanie: yep, i hear you honey. [♪ "world news tonight" theme ♪] >> stephanie: sometimes i'm distracted by headlines while i'm talking. michele bachmann, we must ban filafel in school lunches. >> scarborough: oh, sweet jesus! >> stephanie: she claims that that and other foods of that origin should be removed from school lunches. >> stephanie: she may be beaten this time. wow, you would finally be rid of that [ censor bleep ] and her big gay husband. >> i have just been told by kobe at current that the filafel story was a parody. >> stephanie: oh, okay.
than an hour and a half, a forum on possible tax increases caused by the so- called fiscal cliff after the first of the year. later, the senate debate in the jersey. on washington journal tomorrow morning, we will be joined by ann coulter. we will talk about politics with katrina vanden heuvel, editor of "the nation." washington journal is live everyday at 7:00 eastern. >> americans are not the only people to have a september 11 in their national story. in santiago, chile there was a september 11 even that had a dramatic impact on chilean history and memory. military officers on that day had a full-scale assault on their country. it took over radio stations, police stations, and other centers of power. they stormed the presidential palace, charged through guns blazing. when they were done, the president of chile were dead. a these events led by an army general named agusto. -- augusto pinochet. what most chileans did not know at what many americans still do not know was that the coup of september 11, 1973 was the work of intelligence operatives -- american intelligence operatives that
economic theory of tax cuts for the rich, despite the fact he deny attend tax cuts, and the math. and let's go to war with sesame street but give wall street a big, wet, kiss, that is call what got us into this mess, we spent four years digging out of it. >>> meanwhile, gingrich saying the numbers were good for the president, but the overall picture is still gloomy. >> i think it was a significant help to the president. imagine coming out at 8.2 following the debate, i mean people would have entered the week saying it is close to the end. so it is part of the whole process, the campaign will go down to the end. it will be one of the most interesting campaigns in american history, i think you will see it go back and forth somewhat. on friday, the imf said probably no recovery until 2018. >> more reaction from them on the president's debate in just a moment. but first, here is the gallop daily tracking poll, mitt romney closing the gap on president obama, who still leads by three points, 49-46, and taking to the tv air waves, the romney camp claiming the president's plan will increase taxes
in the inner city and paul ryan said bringing opportunity. >>> and you can do that with cutting taxes with a big tax cut. >> paul ryan said those are your word and not mine thampts kind of strange are you trying to stuff words in people's mouths. this was a local affiliate out of flint, michigan. an important state. >> brian: especially the polls are closing to within three. and it is interesting that paul ryan is out giving interviews and vice-president biden is in a six day -- c>> steve: no kidding. good for paul ryan stick to the press. the guy had something in mind. and it is the thing that newt gingrich did and was effective. maybe joe biden should be looking for that paul ryan. >> gretchen: the mitt romney declaring war on the president obama. >> how does romney's plan stack up. veteran of the wars. coming up next. >> brian: you never saw a full fight quite like this one. >> steve: oh, my goodness. you are right. and then you never saw a bull fight like that one. we'll watch it over and over again. weight watchers online was so easy you look up a food, you eat the food, you trac
advised him to focus on policy, such as romney's effort to distance himself from his own tax proposal. >> for 18 months he has been running on this tax plan. and, now, five weeks before the election, he is saying that his big bold idea is never mind. >> reporter: now top democrats and liberal pundits bemoan a missed opportunity. >> i don't know what he was doing out there, had his head down, enduring the debate rather than fight. >> it looked like romney wanted to be there, president obama didn't want to be there. >> reporter: some blamed denver's high elevation for his performance. >> when you go to 5,000 feet, and you have a few hours to adjust. >> that's interesting. >> i don't know. >> the president spent much time looking down at his podium take notes. and squandered easy opportunities to go after romney. such as this moment. >> i like pbs. i like big bird. i like you too. but i am not going to keep on spending money on things to borrow money from chon ina to p for it. a wide opening. the president took more than 14 hours to come up with a come? back. >> thank goodness, somebody
, and a majority of americans are staring at big increase on their tax bill. ashley morrison with more. >> the tax center released a study showing that americans of all different incomes could be hit with a tax increase. if washington doesn't come up with bauj et deal by the end of the year. if existing tax cuts are allowed to automatically expire, the average tax increase would be $3500 a year, a middle income family make between $40,000 and $60,000 a year would see their tax bill rise by $2,000. >>> overseas marks were mixed this morning. tokyo's nikkei shed a fraction on concerns of company earnings, while south korea's kospi grained a fraction. hong kong's hang seng is closed for a holiday. >>> on wall street, the dow added 77 points while the nasdaq lost two points. jp morgan chase is being sued over dealings made by bear stearns, the investment bank it acquired in 2008. new york's attorney general filed the suit claiming bear stearns misled investors. the suit is the first to be filed under a group set up by the obama administration to investigate misconduct that caused the 2008 financial cr
this year. >> and there is a class action suit claims the fee is a tax and should require a two thirds vote from the legislature, governor brown calls it a fee to help with the budget deficit. >> and a group of people in the south bay is urging google to remove a video clip from you tube related to a film that is sparking violence around the globe. >> happening now in sharp contrast to violent protests around the world this peaceful demonstration in santa clara denounces an antiislam film made in the united states. these protestors are upset with google decision not to remove a video clip available on you tube. the crude film titled "innocence of muslims" angered many, triggering deadly violence. these mothers say they support freedom of expression, but not what they consider hurtful bullying its not okay to tease and if it's deliberate and provocative, it borders on faith based bullying, boy say. >> they say do are just hoping google reconsiders a plea to take down the clip. >> officials are investigating allegations of anti-semitism in the university of california berkeley claiming offici
. how they justify raising taxes on the middle class, buried for the last four years. stuart: that's the back drop of the debate. and this is the latest poll, president obama with a 3 point lead, that's down from the 5 point lead about ten days ago, two weeks ago, we put that entire tape of president obama on our facebook page, please check it out and tell us what you think and we'll read comments in the next hour. vice-president joe biden says the middle class has been buried the past four years, a clear gaffe in my opinion. is he right? i say, yes, he is. we get a democratic congressman's response in, and we'll bring you the opening bell as well. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be
she. >> you don't want your taxes to go to something that you don't agree with. is that your -- >> bill: i want my taxes to go to people who need help. now, bill moyers needs help, i understand that. but not economically. >> bill: now in speaking about portion the liberal take is usually he has to spend all the money because if he didn't, america would be in a depression, caused by the republican president president george w. bush. the other side says nonsense, the president is using the treasury to impose so-called social justice. when it comes to actual numbers, things can get complicated. >> the president, his first year, there was a definite sit of 1.2 trillion. he held it steady. >> bill: all together, how much debt has president obama run up? >> $6 trillion. >> bill: very good, $6 trillion. >> i learned that on sesame street. >> bill: the job of the president now is get the debt under control and you got to cut stuff! >> exactly. so right now -- [ applause ] the debt is steady. right now what we've done is balance it. >> bill: no, we haven't balanced the debt! are you k
week with payroll tax. for a baby boomer that's about $60,000 before they retire. for millenniums, it's going to be even worse. these are real costs at the kitchen table. and obviously as newt gri noted, romney's plan is daz 5 trillion tax plan. it is heavily weighted towards the top. i think voters are smarter than mitt romney thinks and i think they're going to want to know the real facts. >> let's talk about virginia specifically here. this is a state where, where the race is extremely tight right now. the latest nbc news/"wall street journal," marist college poll showing 48% of likely voters supporting the president, 46% supporting governor romney. that's a virtual tie there. you can also see that governor romney gained two points from september. the president lost one. you are an expert of sorts on virginia politics. what does the president have to do to regain momentum in the commonwealth? >> well, i think he's got to keep focusing on what this means at the kitchen table in virginia. his plan is good for the middle class, romney raises taxes on the middle class. for current seni
stated the things he should have said i'm going to have that $5 trillion tax cut. i understand that obama had a bad debate, didn't do what he was supposed to do but mr. romney lied. >> bill: you are absolutely right. again, i compared romney's debate performance to the ryan speech in tampa. it was a good performance but it was packed with lies. i think the entire media was focusing on stage craft and performance or entertainment or acting ability and not on the substance of what they said. on the substance of what he said mitt romney simply did not tell the truth about the $5 million, about health care, about a whole lot of stuff. kevin in chicago, kevin getting rid of big bird good idea? >> caller: yeah, my granddaughter is four years old, so i'm ul up to speed on big bird. and it brings back memories of when my kids were young. >> bill: same here. >> caller: it is just an example of the crap that comes out of his mouth. they don't realize the value of putting something on tv for the kids to watch -- >> bill: and learn, yeah. >> caller: and the whole indu
earnest. how they can justify, how they can justify raising taxes on the middle class that has been buried the last four years. >> vice president biden just today, said that the middle class over the last four years has been quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! [cheers and applause] gregg: republicans didn't waste anytime trying to utilize the biden remark, did they? >> we'll be hearing a lot about that over the next couple weeks. and i can assure you the white house wishes they could reverse time and get biden to say something, anything different from that. but you know, for those us in the press that is the nice thing about joe biden. he is always sort of ad-libbing and giving us great things to write about. gregg: that updates the biden gaffe clock that the rnc always run on their website. paul ryan seems to have recalculated the infamous 47% remark that, hess running mate uttered. take a listen to this. >> today, 70% of americans get more benefits from the federal government in dollar value than the
of americans who pay no income taxes. >>> i said something that was completely wrong. >> meningitis outbreak. health officials rush to alert patients who may have been exposed to the tedly disease that's killed five people in sickened dozens more. >> i don't want this thing in my body. i feel like i want a cleanser. i want it out. get out of my body. >> and bin laden drama. a tv movie about the raid that killed osama bin laden is set to air two days before the presidential election. this is the "cbs morning news" for friday, october 5, 2012. good morning. good to be with you. i'm terrell brown. mitt romney is changing his tune about those controversial remarks concerning 47% of americans. last may speaking at a florida fundraiser romney said 47% of americans paid no federal income taxes and considered themselves victims and will support president obama. romney originally stood by his remarks and described them as not elegantly stated but in an interview with fox news last night romney had a different explanation. >> clearly in a campaign with hundreds if not thousands of speeches and questio
to an independent, non-partisan study, barack obama and the liberals will raise taxes on the middle class by $4,000. the same organization says the plan from mitt romney and common sense conservatives is "not a tax hike on the middle class." want proof? read the non-partisan study for yourself at american.com. obama and his liberal allies? we can't afford four more years. i'm mitt romney and i approve this message. . >>> california's made the record books for the highest gas. the average price is $4.66, an all-time high. and calling malicious trading schemes. the washington area could be headed towards the $4 mark n. d.c., $3.89; maryland, $3.70 and what is causing the rise in prices, adam housley has a look. >> reporter: this 76 station in the western part of los angeles, the regular price, $4.99 a gallon, premium, $5.19 down the street at a different gas station, you will find the regular gas price at $5.39 and, as you might imagine, consumers are not so happy with prices this high. >> so they're jumping on us quickly and takes forever to t them back down. that is ridiculous. >> $10 in gas is
] but this is what the budget plan mitt romney supports actually does. more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities? >> live and in hd, this is an abc 7 news update. monday morning at 7:26, on october 8, columbus day. silver spring police are investigating an officer- involved shooting overnight at about 3:15 this morning. a man called than to say he harm himself and possibly others and they believe d to hiseade girlfriend's house. police found him there and a andile - in a stairwell exchanged and the n to thewas take hospital. prince george's county police investigating an officer- shooting in ginsberg. they ordered a man with a knife it and the officer shot twice in the stomach and taken to theas hospital. the officer was not hurt and newschannel 8 will have more coming up in a couple of minutes. let's check on the traff
to increase taxes and fees. how will you approach these difficult choices? supervisor chu: we know that our budget deficit is a significant one. at the moment, blooms are around $380 million -- at the moment, it looms around $380 million. we could not meet that gap. i think the city needs to take a balanced approach, and if you take a look at previous years, we have taken a look at things like where are fee revenues, what do those look like? where are the changes in other revenue pictures, whether it is transfer tax or hotel tax or other things that help to improve the picture. in addition to that, how is it that we can really control some of our expenses? i think that in order to address the $380 million budget deficit, we really have to take a look at both sides, revenue side as well as the cost side of things, and i think there are certain things that the city can do right now that might that not impact this year's budget or -- that might not impact this year's budget for next year's budget but will have a long-term effect. i mean pension reform and some of the ways we calculate those li
. but the real mitt romney has been running around the country for the last year promising $5 trillion in tax cuts that favor the wealthy. >> reporter: in the audience many of the president's supporters expressed bewilderment at his performance. >> i felt like he should have been more aggressive. >> i didn't understand his strategy and thought, you know, i wondered what was going on. >> reporter: sources tell abc news, the president's strategy was a calculated decision not to risk appearing unpresidential by attacking romney on say that video insulting 47% of the country as irresponsible victims. his aide advised him to focus on policy, such as romney's effort to distance himself from his own tax proposal. >> for 18 months he has been running on this tax plan. and, now, five weeks before the election, he is saying that his big bold idea is never mind. >> reporter: now top democrats and liberal pundits bemoan a missed opportunity. >> i don't know what he was doing out there, had his head down, enduring the debate rather than fight. >> it looked like romney wanted to be there, president obama d
months calls for a $5 trillion tax cut flip' not lookior $5rillion tax cut. i said i won't p in place a tax cut that adds to the deficit. >> the other big story tonight the great debate. president obama and governor romney fight over taxes and the economy. good evening. i'm dan ashley. let's get the latest on this tonight from abc 7 news political reporter mark matthews. it was an interesting exchange. >> it was clear right from the start that mitt mitt romney sae debate as a chance to shake up the race and came out aggressive and prepared and put the president on the defensive for much of the 90 minutes. >> president obama and mitt romney went head to head. the candidates boiled down their economic arguments. >> governor romney has a perspective that says if we cut taxes skewed towards the wealthy and roll back regulations that we will be better off. i have got a different view. >> the president has a view very similar to the view he d when ran four years guy. if you will, trickle down government would work. that is not the right answer for america. >> romney's comments about the 47%
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